Refinance
Refinance your mortgage in MI, TX, or FL.
Lower your rate, drop mortgage insurance, shorten your term, or turn equity into cash. We price every scenario across our wholesale lender network before you commit.
The right refinance depends on your goal.
Refinancing isn't one product. It's a decision with several shapes depending on what you're solving for. We start by asking what you actually want out of it: a lower payment, a shorter payoff, cash for a project, or getting out from under mortgage insurance.
From there, we price your current loan against our wholesale lender network and show you the real break-even math. You decide with full numbers in front of you, and there's no pressure to refinance if the math doesn't work in your favor.
- ✓ Rate-and-term refinances to lower your payment or shorten your loan
- ✓ Cash-out refinances to fund renovations, debt payoff, or investments
- ✓ Straight break-even math before you commit to anything
Two Paths
Rate-and-term vs. cash-out.
Both replace your existing mortgage with a new one. The difference is what you walk away with.
Rate-and-term refinance
Replaces your current loan with a new rate, term, or both, without changing your loan balance.
- Lower your interest rate as rates move or your credit improves
- Switch a 30-year loan to a 15-year to pay it off faster
- Remove FHA mortgage insurance by moving to conventional
Cash-out refinance
Replaces your loan with a larger one and gives you the difference in cash at closing.
- Fund a renovation, often at a lower rate than a personal loan
- Consolidate higher-interest debt into one mortgage payment
- Tap equity for an investment property down payment
Is It Worth It
When refinancing makes sense.
Rates have moved
Even a small rate drop can be worth it if you plan to stay in the home past the break-even point.
You've crossed 20% equity
Refinancing out of FHA or PMI-bearing conventional financing can lower your payment without a rate change.
Your plans have shifted
Consolidating debt, funding a renovation, or shortening your term toward retirement are all valid reasons to run the numbers.
Questions
Refinancing, answered.
How much does it cost to refinance?
Closing costs typically run 2-5% of the loan amount, covering the appraisal, title work, and lender fees. Some of that can be rolled into the new loan instead of paid out of pocket. We'll show you the exact costs and the break-even point before you commit.
How soon can I refinance after buying?
It depends on the loan type. Conventional loans generally have no waiting period, FHA and VA streamline refinances usually require six to seven months of on-time payments, and cash-out refinances often require six months of ownership. We'll confirm the exact rule for your current loan.
Will refinancing hurt my credit score?
A refinance involves a credit inquiry, which typically causes a small, temporary dip. Shopping multiple lenders within a short window usually counts as a single inquiry for scoring purposes. Most borrowers see their score recover within a few months as the new loan reports on-time payments.
What is the break-even point on a refinance?
It's the point where your monthly savings catch up to what you paid in closing costs. If refinancing saves you $150 a month and costs $4,500 to close, your break-even point is 30 months. If you plan to stay in the home past that point, the refinance typically pays for itself.
Can I refinance an FHA loan into a conventional loan?
Yes, and many homeowners do exactly this once they've built enough equity, since it removes FHA's mortgage insurance premium, which otherwise often lasts the life of the loan. We'll run the numbers to see whether the savings outweigh the closing costs in your case.
Is a cash-out refinance a good way to pay for renovations?
It can be, since mortgage rates are usually lower than credit cards or personal loans, and the interest may be tax-deductible for home improvements. The trade-off is resetting your loan term and using your home as collateral, so we'll walk through whether it fits your plans better than a home equity line.
Ready when you are
See what refinancing could save you.
No obligation to move forward. Just real numbers from our lender network.